24/7 Market News – (NASDAQ: MREO) shares are up again this morning $1.51 and more than 15% on more than 17,491 trades as traders await news on AstraZeneca buyout possibilities.

June 21, 2022

Shares of small-biotech Mereo BioPharma (MREO Quick QuoteMREO – Free Report) surged 62.5% on Jun 17, following a report issued by the Times, which stated that AstraZeneca (AZN Quick QuoteAZN – Free Report) is interested in acquiring the company. Mereo BioPharma is a U.K.-based pharmaceutical company focused on developing therapies targeting cancer and rare diseases.

Per the article, Mereo is in discussions with AstraZeneca to accept the bid at $5 per share, amounting to a total purchase price of nearly $500 million.

In the year so far, shares of Mereo have fallen 18.8% compared with the industry’s decline of 28.1%.

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